One of the most popular social avatar platforms, IMVU, is transferring its NFT economy to Immutable X. The move is expected to eliminate gas fees and allow users to trade their collectibles at lower costs.
IMVU joins the Immutable X platform
Recently, the social avatar platform IMVU has confirmed moving its entire NFT economy to Immutable X. The platform creators, Together Labs, aimed to cut off gas fees, thus encouraging users to enjoy NFT trading at its fullest.
Accordingly, the move will also facilitate the users’ access to the 50 million NFTs currently available for the metaverse. What’s more, Together Labs pointed out their excitement regarding Immutable X’s ‘next-gen economy’ system.
Immutable X co-founder Robbie Ferguson pointed out other future benefits resulting from the partnership:
“We are ecstatic to be working with IMVU. We are delivering scalability to every user in the IMVU metaverse with Immutable X’s technology, allowing them to trade their NFTs easily on Ethereum without compromising the security of their assets,” he says.
IMVU: a new start on the NFT market
Far from being new on the market, IMVU launched way back in 2004. Surprisingly, the platform now records over 27 million monthly transactions, with 7 million active users recorded each month.
Recently, the social avatar platform also entered the NFT scene – a move that has been incredibly successful.
Back in January, the team also launched its own ERC20 token, called VCOIN. In essence, users can use VCOIN to build and design new items, as well as their avatars, within the game ecosystem. The new token has facilitated access to the market, as it has replaced the former Uphold crypto payment system.